Review on Bitcoin by zhon samar
first coin
Bitcoin is a digital currency that you can use to make online purchases, buy or consider it as a kind of investment.
There are several groups on the Bitcoin network, the most important of which are the developers (the same people whose photos you may have seen with shovels and pickaxes who have nothing in common with these photos!), The developers (programmers who are responsible for improving the software).
Bitcoin has been voluntarily taken over) and network nodes (devices that are connected to the network) are mentioned. The value of bitcoin is not determined by a specific individual or group. Just as the price of gold in global markets is determined by supply and demand, so is the price of bitcoin in exchanges and brokerages based on two main factors: supply and demand. The most important characteristic of Bitcoin is that it is decentralized. As mentioned, Bitcoin is not controlled by any individual, group, organization, bank or government. The decentralization of bitcoin means that power is distributed among individuals on the network.
Governments and central banks have the power to print money indefinitely, thereby reducing the value of their national currencies. On the Bitcoin network, although everyone can participate in the creation of new monetary units, the total number of coins that can be made is limited to 21 million units. Limiting this number is one of the same rules written in network codes.
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Pros
- not controlled by any particular individual
Cons
- Its manufacturer is unknown
